El Salvador bets on trade and investment facilitation

The trade facilitation strategy implemented by the government involves the renovation of physical and technological infrastructure for greater economic competitiveness.

by Omar Martínez

To turn the country into a world reference in the management of logistics and foreign trade is the Government’s bet with the trade facilitation strategy, and renovation of physical and technological infrastructure, according to the Minister of Economy, María Luisa Hayem.

“All these actions that we summarize in simplification and digitization of procedures, in the modernization of our infrastructure, both technological and physical in our border posts, ports and airports and integration with our partners, will gradually lead El Salvador to position itself in the logistics area.”

“The example we are sending not only to the Central American region, Latin America but to the world, is great because we are showing that we are a country that executes, that modernizes. Our objective is to serve our population, and our companies to improve the quality of life,” she added.

The official emphasized that 17 government institutions, regional organizations, trade associations, and private companies are participating in the trade facilitation effort.

Recently, the Minister of Economy also announced that El Salvador has taken an important step towards the facilitation of trade in services, following the ratification by the Legislative Assembly (LA) of the agreement with the World Trade Organization (WTO) on Domestic Regulation in Services.

Among the benefits are “the simplification of procedures and reduction of barriers to work in other countries and easy access to information related to the services sectors at the international level”, the minister explained.

For its part, the Legislative Assembly informed that the tool allows to guarantee fair and equitable treatment for the countries that are subscribed to it and to promote economic activity, taking as a reference the rules established by the WTO.

“Today we are taking an important step towards the facilitation of trade in services. We ratify the end of negotiations with the WTO on national regulations for this sector; this way you will be able to increase your competitiveness and exports, and even participate in global value chains,” the institution said.

Source: Diario El Salvador